A research report on the Acrylic Fibers Market has recently been published by Stratview Research, which addresses the significant changes in the Acrylic Fibers Market. The study's purpose is to recognize recent market sizes for various segments and countries, as well as forecast values for the coming years. This research gives an analytical review of the market’s present trend and future estimates in order to find additional opportunities. The report is meant to provide both qualitative and quantitative aspects of the market in each of the areas and countries studied.
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Market Insights
The acrylic fibers market is likely to grow at a modest CAGR of >1% over the next five years. Acrylic fibers are lightweight and have softness and warmth. They also offer excellent resistance to ultraviolet degradation, microbiological attack, weak alkalis, and laundry beach. Over the past some years, acrylic fibers have been facing tough competition from low-cost fibers including polyester fibers. Polyester fiber has a lower cost, excellent raw material availability, and recyclability. The global export of acrylic fibers has significantly declined in the recent years and this situation seems to prevail in the foreseeable future.
The higher cost of acrylic fiber is the biggest constraint of the market. The cost of acrylic fiber is highly dependent on acrylonitrile (ACN) cost. The volatility of ACN prices makes a huge impact on the demand for acrylic fibers. Despite the recent decline in ACN prices, the prices of acrylic fibers are still higher than the polyester fibers. However, the increasing demand from the apparel industry and the growing application of acrylic fibers in household furnishings sustain the present global acrylic fibers market.
Profiling Key Companies –
Aksa Akrilik Kimya Sanayii A.S.DralonKaltexPasupati Acrylon LimitedFormosa Plastics GroupJILIN QIFENG CHEMICAL FIBER CO.LTD.Covid Impact
This informative research report also includes the most recent global events concerning the coronavirus pandemic. The report provides a detailed analysis of the pandemic's impact and the industry's economic scenario. The report consists of tables, graphs, charts, figures, and diagrams, that are used to graphically represent important statistical information.
𝗞𝗲𝘆 𝗙𝗲𝗮𝘁𝘂𝗿𝗲𝘀 𝗼𝗳 𝗥𝗲𝗽𝗼𝗿𝘁:-
Assessment of the marketCompetitive LandscapeCOVID Impact AnalysisValue Chain AnalysisHistoric Data, Estimates, and ForecastCompany ProfilesGlobal and Regional DynamicsFuture Business Scope & Opportunities ForecastSegment Analysis
Based on the end-use industry type, the market is segmented into apparel, household furnishing, industrial, and others. The apparel segment currently holds the largest share of the market and is also estimated to grow at the highest CAGR during the forecast period. A wide use of acrylic fibers coupled with a large application base including sweater, sportswear, children wear, and socks are the major factor driving the growth of the segment. Changing lifestyle, evolving fashion trends, growing disposable income, and increasing standard of living are giving an impetus to the demand for apparels worldwide. Also, acrylic fiber finds a wider use in the manufacturing of household furnishing.
In terms of regions, Asia-Pacific holds the largest chunk of the market and is expected to remain the most dominant market in the foreseen future. Asia-Pacific alone holds more than 60% of the total capacity of acrylic fibers, mainly in China. China currently accounts for almost 43% of the total acrylic fibers market and is projected to remain the largest market in the region over the next five years. Despite large capacity of acrylic fibers in China, the country is still importing some of its requirements from the global marketplace including Turkey.
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Critical Questions Answered in the Report
What are the key trends in the Acrylic Fibers Market?How the market (and its various sub-segments) has grown in the last five years and what growth trajectory will it follow in the next five years?On what scale has COVID-19 impacted the Acrylic Fibers Market?What are some key strategies adopted by the market leaders in the Acrylic Fibers Market?How much share of the Acrylic Fibers Market do the top players own?𝗔𝗯𝗼𝘂𝘁 𝗨𝘀:-
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